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Benefits of Value Engineering/Value Analysis/Value Management

Value Analysis recognizes that good value is achieved when the necessary performance can be accurately defined and delivered at the lowest life cycle cost. The Value Methodologies result in benefits to both the individual and the organization.

The benefits to the individual of Value Analysis/Value Engineering include:

  • A systematic approach to solving problems.
  • Self-satisfaction from contribution their ideas to solution and in participating in an energetic workshop.
  • Improvements in their knowledge and abilities because workshop team members with different backgrounds share their expertise during the VA workshop.
  • Participation in a transparent process that results in more informative decisions.

The benefits to the organization of using Value Analysis/Value Engineering include:

  • A Return of Investment typically ranging from 20:1 to 100:1
  • Cost savings while achieving required functions
  • Improved understanding of the project and validation of costs
  • Improved stakeholder engagement,
  • Objective selection among competing priorities or solutions,
  • Definition, understanding and measurement of the values related to the project, product, process, or service
  • Improvement in corporate culture through enhanced creativity and the introduction of new ideas and approaches ,
  • Expedited project schedules,
  • Improved quality.

Information Technology Roads, Bridges, Transit and Rail Manufacturing Water and Wastewater Buildings and Facilities Business Improvement Individual
Understand Business Needs Best value for money spent Increase profitability Best value for money spent Best value for money spent Potential to save time and resources Increased Job Satisfaction
Improve performance Minimize life cycle costs. Improve performance Minimize life cycle costs Minimize life cycle costs Builds teams Build relationships with team members
Objective Solution amongst Competing Priorities Improve performance Solve difficult design problems Improve performance Improve performance Improve Corporate Culture Develop Analytical skills
Build consensus Reduce risk Improve quality Improve reliability Increase sustainability Strategic planning Develop Creativity
Make complex decisions Meet budget constraints Assure quality Meet budget constraints Meet budget constraints Improve schedule Obtain New perspectives
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